UK sanctions Pakistani tycoon Lakhani for Russian energy role

The UK sanctioned oil trading tycoon Murtaza Lakhani, part of a new package targeting Russia over its war against Ukraine.

Lakhani, a prominent Pakistani businessman who long used London as a base, was added to the country’s sanctions list for his alleged role in the Russian energy sector, the UK said. The British sanctions also designated a cadre of companies, including Lakhani’s Mercantile & Maritime Group.

The moves come days after a new sanctions package by the European Union, which also hit the Pakistani trader as well as an influential Azeri rival.

Lakhani declined to comment.

The latest sanctions from London and Brussels land as Washington prepares its own fresh round of designations targeting Russia’s energy sector, part of a strategy to ratchet up the pressure on Moscow should President Vladimir Putin reject a peace agreement with Ukraine. The Trump administration is considering options, such as targeting vessels in Russia’s so-called shadow fleet of tankers as well as traders who facilitate the transactions, Bloomberg News reported on Wednesday.

Lakhani, who long used London’s upmarket Chelsea neighborhood as a key base and is well-connected in British political circles, made a name for himself as a savvy operator in some of the most challenging jurisdictions.

The UK sanctions on Thursday targeted some firms based in the United Arab Emirates, including Tejarinaft FZCO, Fossil Trading FZCO and Amur II — FZCO, which it said were associated with Lakhani, and carried out business in a sector of strategic interest to the Russian government.

Three small Russian oil producers were also blacklisted.